The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-05-28

Of the $94, 600 900 earned by the New
York Central rsilrosd SIP, 0O0, 600 goes
for wages, $l00O0,000 ior supplies,
S. OO0 600 foT taxeI, interest, etc, aud
So OOO,O00 for the bloated bond
holders and stockholders to blost on.
TIE work of eqaslizing the profits
OF capital and labor is progressing
steadily, but 1t will be many years be-
fore this mighty problem, affecting
every human being, will be adjusted.
IL &C i1sled today or tomorrow, 1t
would practically check organization,
and bring about O feeling OF content.
ment, which would do more TO retsrd
civilization than all the IL ustice OF
capital and OF monopoly.
TX. q. Dun A. Co.'S Review.
New YoRK, May 27.-R. g. Dun d
Co.'s weekly trade review says: The
mort important rew5 of the week is
also the best-that crop prospects havs
decidedly improved. Ia view OF the
great speculsIions In wheat and cotton,
and the false reports carefully circu.
lated by Interested parties, itais of
seryics to know that our own agents
telegraph from Wisconsin: Local
rains have helped the agricultural dis
tricts;" from Minnesota, "RAins
throug hout North west very materially
improve crop prospects," from Kansas
City, prospects excellent for excep.
tionally large crops--recent copious
rains of great benef'," and from New
0rleanp, "Orop prospects generally
good" and these nre samples OF varia-
bic dispatches from nearly all quarters.
The fear OF injury thus far seems salts
iactOrily removed, and ii harm to
wheat or cotton is 10 come 1t must be
from climatic IL nuenGes in the future.
This good news for the whole country
is diehsaItening, however, when
financial prospects have come to
depend upon the success OF gi-
gantic speculations for an adj
vance in prices Of products. The
financial future Is also affected by the
large rec .ipts OF the Treasury, amount.
ing for ten months and twenty days to
1871 ,6I2 S67 more than receipts Tor the
same part of the previous year. At
the same rate the Treasury must take
from the markets very large sum
every month, after the last call for 3
per cents natures July LIST, and Wash
ington dispatches state that the adj
mlnistration will purchate bonds with
great reluctance, If 1T all. The last
statement OF New York banks showed
an Increase of loans aud reserves, be-
cause Mr.. Manning's new bank waJ
for the first time ircuded; but the
drain of money to Chicago to meet
the needs OF speculation still contin-
ues, the return to that point from the
interior beir & retarded by real estate
and other ACTIVITY extensively prevail
ing. Foreign commerce does not i'm
prove. April imports exceeded ex-
ports by $l5,973,9 75, and the excess
was equaled in one month OF 1882
after the partial failure Of crops, and
In no other month since 1872, NV
York exports to May fall III per cent
below those OF last year, with imports
exceeding those of last year by 173
per cent, which would foreshadow an
excess of about 100000 In imports
this month. The prevailing fpeCula-
tione, rather than the interstate act,
cause the decline in exports, for ship
ments Of grain by lake and rail are
made without regard to local rail rates,
In cotton the exports are hardly quar-.
ter OF those OF May, 1886, aud a thcial
prices for pork products also cause a
decrease in shipments. The inter.
state Commission has not yet revoked
its order Ct suspension, but all infor-
nation tends 10 the belief that IL will
do TO, and points to rigid enforce
ment OF the set. Much complaint 10
made even now, with the rate for dis
lance rule not everywhere enforced, OF
the transfer of trade from large to
smaller towns, and from Eastern to in.
tsrior cities. A great number OF suits
commenced, and Complaints filed, in
dlcata that costs Of transportation will
be increased rather than diminished,
Earnings still are large and enCourag.
ing, but q war OF IA 20 in the North
west results from milling in transit
contracts issued by the st, Paul and
other roads, and the competition of
Canadian and water routes 10 felt mo Q
severely every week. Accounts from
nearly all quarters ara decidedly favor.
able. At Philadelphia trade is Ian
guish, and there is some complaint OF
slow collections; a. New Orleans
money Is rather tighter, and at On'
Cinnati collections are clair, with
room for improvement" but
other reports indicate active trade
for the &c won, good supply Of money
for sll Legitimate business, and col
lections satisfactorily prompt In the
iron trade Pittsburg hopes to see many
banked" furnaces set at work again
by a reduction In the price OF coke
and the termination of the strike. Il
ia also believed at Detroit that the
great strike Of the stove molders will
end this week, and work will be 70
sumed on Monday. A better trade II
tobacco is noted In Cincinnati, and
, the real estate excitement does mo-
a5ate. The great tale at West Nash
vile resulted satisIsc oIily, with heavy
purchases by EIaAern investors, anC
, prices are sustained with great conf
! dtnce at 0mahs and o.htr Western
! points by more favorable crop pros
+ poets,
= Ghe coffee market, after q week o
, advancing prices, declined yesterday
mcrniuE. Whea gained little duiDI
J the weak, ald the collapse Of tn,
. clique is by many aprrehended. Hog
, anu pork products, with cattle, were {
shade lower, and sugar, cotton and OF
I little stronger. No defini 10 improve
Z ment appears In the market fer woole
goods, and the great auction sale Q
! Il lnnels csused hesitation, but tn
: market for cotton is healthy an
T strong.
, The business failures during the las
8 seven DAYS number 70; the Unite
J. States 1853, for Canada %, q total Q
l75, against $50 las week and Isl tn
: corresponding week of last year.